The typical U.S. corporate pension plan's funding status declined by 1.1 percentage points to 91 percent in April as liabilities increased faster than assets. This is the second consecutive month of decreased funding status in corporate plans, according to data from BNY Mellon's Investment Strategy & Solutions Group.
Liabilities increased 2.1 percent while assets only increased at 0.9 percent. According to BNY Mellon, corporate pension plans funding status is down 4.2 percent year-to-date.
Public defined benefit pension plans met their target returns in April, while endowments and foundations posted negative returns.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
